Orion Energy Systems, Inc. (OESX) Stock

Orion Energy Systems, Inc. (OESX) is a Industrials stock trading at $19.44 (as of 2026-08-20), with a market capitalization of $79.15M and a trailing P/E of 269.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Orion Energy Systems, Inc. designs, develops, manufactures, and sells lighting and energy-management systems, including LED fixtures and lighting control solutions, and provides related services such as maintenance, installation, and energy-assessment and project support. The company operates through segments for its service group, distribution services, and U.S. markets, serving commercial and industrial customers in North America.

Understand Orion Energy Systems, Inc.: how it makes money

Orion Energy Systems develops and sells energy management systems, including LED lighting fixtures, smart building control systems, and retrofit and related installation services for commercial office and retail, exterior lighting, and industrial applications, and it also pursues electric vehicle charging solutions in North America.

Profit is likely driven by the mix of (1) product and project revenue from lighting and retrofit work, and (2) service revenue tied to ongoing maintenance at customer locations, while future growth depends on converting the EV charging project pipeline and cross-selling pipeline between lighting and EV charging into completed installations.

Business quality (Weak): Strengths are a broad offering set (LED lighting, smart building controls, services) and measurable operating inputs (maintenance locations, EV pipeline). The bear case is that operating profitability appears thin (operating margin 1.8% on the provided period), and the profit model depends on project and pipeline conversion, with limited segment revenue detail in the provided facts.

Bull case

  • Multiple revenue levers across products, retrofits, and services: The company researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems, including LED lighting fixtures and smart building control systems, which can support both one-time project work and service activity.
  • Defined operational inputs for growth: The company has specific operating KPIs related to EV charging project pipeline and cross-selling between lighting and EV charging, which can help track conversion from prospects to installations.
  • Positive gross margin in the provided period: For 2025-12-31, the provided gross margin is 30.9%.

Bear case

  • Thin operating profitability: For 2025-12-31, the provided operating margin is 1.8%, which leaves less room for cost overruns or slower project conversion.
  • EV charging growth depends on pipeline conversion: The provided operational KPIs emphasize EV charging project pipeline and EV-related installations, so results can be sensitive to whether projects move through to installation.
  • Some revenue streams may be contract-specific: The provided revenue candidates include
Valuation — source: SEC EDGAR (first-party)
Price$19.44
Market Cap$79.15M
P/E Ratio269.2
EV / EBITDA28.5
Price / Book4.22
Price / Sales0.92
FCF Yield2.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$86.31M
Net Margin-3.7%
Revenue Growth (YoY)8.3%
EPS Growth (YoY)147.2%
FCF Growth (YoY)-332.4%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.03 (distress)
Piotroski F-Score7/9 (strong)
Valuation vs Sector & Industry
Stock P/E269.2
Sector P/E (Industrials)25.9
Industry P/E (Electrical Equipment)37.8
vs Sector939.8%
vs Industry612.5%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderNorth Star Investment Management Corp. ($4.59M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryElectrical Equipment
CEOSally A. Washlow
Employees260
CountryUS
IPO Date2007-12-19

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OESX earnings history · OESX institutional & insider holders · OESX KPIs & operating metrics · OESX financials · OESX investor presentations & press releases · OESX SEC filings · OESX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.